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A bona fide purchaser (BFP) – referred to more completely as a bona fide purchaser for value without notice – is a term used predominantly in common law jurisdictions in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property ...
Innocent purchaser of property who purchases for value without notice of any other party’s claim against the property. So long as a bona fide purchaser properly records the transaction, the bona fide purchaser takes good title to the property despite competing adverse claims.
12 Feb 2021 · A recent Alberta court decision confirmed that a bona fide purchaser for value without notice of a breach of trust should be protected, even in land transactions involving First Nations communities. The court dismissed claims of the Paul First Nation that the lands were Special Reserve lands or held in trust by the Auctioneer.
A bona fide purchaser for value without notice (BFPFVWN) is a good-faith buyer who has paid a stated price for a property without knowledge of existing prior claims or equitable interests. For simplicity, the term can be broken down as follows: Bona fide – good faith (no ill/deceptive intention)
14 Mac 2024 · The law is that a bona fide purchaser of a legal estate for value without notice has an absolute, unqualified and answerable defence against the claims of any prior equitable owner. The burden to establish or prove the plea lies on the person who sets it up.
A bona fide purchaser is someone who exchanges value for property without any reason to suspect irregularities in the transaction. Learn the definition, protections, and exceptions of this term in property law.
purchaser for value without notice. Quick Reference. One who acquires land either in return for money or other consideration having monetary value and who does not know and has no reason to know of an encumbrance that adversely affects the land.
